If the company borrows 8330 to pay for the purchase on the

Assignment Help Accounting Basics

Reference no: EM13568252

A company purchased merchandise inventory at a cost of $8500 with credit terms 2/10, net 60. If the company borrows $8330 to pay for the purchase on the last day of the discount period and pays the loan plus interest in the amount of $8466.93 on the last day of the credit period, what is the interest rate for borrowing money from the bank?

Reference no: EM13568252

Questions Cloud

Which of the following lists correctly ranks investments : over the past 75 years we have observed that investments with higher average annual returns also tend to have the

Investment abd will pay you 7000 for each of the next 9 : investment abd will pay you 7000 for each of the next 9 years whereas investment xyz will pay you 9000 for the next 6

Motorcade company has three service departments s1 s2 and : motorcade company has three service departments s1 s2 and s3 and two production departments p1 and p2. the following

Your task is to provide and answer a topic of discussion : movie-for greater gloryin the movie for greater glory we can perceive in the background the mexican revolution. this

If the company borrows 8330 to pay for the purchase on the : a company purchased merchandise inventory at a cost of 8500 with credit terms 210 net 60. if the company borrows 8330

A standard deviation of returns of 18 and the market risk : if stock a has a beta of 1.2 and a standard deviation of returns of 18 and stock b has a beta of 1.8 and a standard

Te company had 250000 shares of 10 par value common stock : on may 1 a companys board of directors declared a 10 stock dividend to be distributed on june 1 to the stockholders of

Write a literature review based on the following title and : question write a literature review based on the following title and the research questions indicated below. the

On june 30 the board of directors of sandals inc declares a : on june 30 the board of directors of sandals inc. declares a 2-for-1 stock split on its 30000 3 par common shares. the

Reviews

Write a Review

Required(*) Message

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest. How much control does the Fed have over this longer real rate?

Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

Accounting problems

Accounting problems, Draw a detailed timeline incorporating the dividends, calculate the exact Payback Period b) the discounted Payback Period. the IRR, the NPV, the Profitability Index.

Theory of interest - term structure of interest rates

Term Structure of Interest Rates

Write a report on internal controls

Write a report on Internal Controls

Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

Liquidity and profitability

Distinguish between liquidity and profitability.

What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

Capm and venture capital

CAPM and Venture Capital

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

User Account

All Pages